NewEdge Advisors LLC Boosts Stock Position in Performance Food Group (NYSE:PFGC)

NewEdge Advisors LLC boosted its stake in shares of Performance Food Group (NYSE:PFGC) by 10.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,271 shares of the food distribution company’s stock after purchasing an additional 815 shares during the period. NewEdge Advisors LLC’s holdings in Performance Food Group were worth $699,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Mariner LLC increased its holdings in shares of Performance Food Group by 4.2% during the fourth quarter. Mariner LLC now owns 11,924 shares of the food distribution company’s stock valued at $1,008,000 after acquiring an additional 480 shares in the last quarter. Barclays PLC raised its holdings in Performance Food Group by 39.4% in the fourth quarter. Barclays PLC now owns 131,501 shares of the food distribution company’s stock worth $11,118,000 after buying an additional 37,180 shares during the last quarter. Seeds Investor LLC lifted its stake in shares of Performance Food Group by 24.3% in the fourth quarter. Seeds Investor LLC now owns 4,179 shares of the food distribution company’s stock worth $353,000 after buying an additional 817 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new stake in shares of Performance Food Group during the fourth quarter valued at approximately $210,000. Finally, Sterling Capital Management LLC increased its position in shares of Performance Food Group by 2.2% during the fourth quarter. Sterling Capital Management LLC now owns 90,819 shares of the food distribution company’s stock valued at $7,679,000 after acquiring an additional 1,921 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Performance

Shares of NYSE PFGC opened at $79.46 on Friday. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 32.04, a price-to-earnings-growth ratio of 0.96 and a beta of 1.16. The firm has a 50 day moving average of $78.15 and a 200 day moving average of $83.21.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. On average, research analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

PFGC has been the topic of several recent analyst reports. StockNews.com downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Piper Sandler cut Performance Food Group from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $92.00 to $90.00 in a research report on Friday, February 7th. Barclays decreased their target price on Performance Food Group from $102.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, Morgan Stanley raised their price target on shares of Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.09.

About Performance Food Group

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.